SWIFT Opens Applications for 2014 Innotribe Startup Challenge

Financial messaging provider SWIFT said that
Innotribe, its initiative to enable collaborative
innovation in financial services, has launched the Innotribe Startup Challenge 2014, a year-round competition
that introduces entrepreneurs delivering new products and services to leading
fintech and financial decision makers and early-stage investors.

Competitors will have the
opportunity to showcase the new concepts and products that could enable
financial institutions to advance the services they bring to the market and
differentiate themselves in this increasingly competitive industry.

SWIFT expects the 2014 Challenge
to attract hundreds of early-stage start-ups and growth-stage innovators from
around the world. It will include three regional showcases in London, Singapore
and New York. Three start-ups and two growth-stage innovators will be selected
as finalists at each event, to present at Sibos – SWIFT’s annual conference – in
Boston in September 2014.

“The Innotribe Startup
Challenge is an unparalleled opportunity for up and coming entrepreneurs in our
industry to engage with senior decision makers from global financial
institutions,” said Fabian Vandenreydt, head of markets management, SWIFT.

“As firms remain under
pressure to implement innovative new concepts, Innotribe can help facilitate
collaboration between start-ups and the wider community enabling this to
happen. We saw some great innovations in 2013, and I’m looking forward to
seeing what the 2014 intake of start-ups has to offer, and to give them that
much needed exposure to the financial industry.”

The Innotribe Startup
Challenge is open to both start-ups and growth-stage companies established
within the last three years delivering technology-based innovations in
financial technology, financial services and related fields. To be eligible,
start-ups must have a working prototype and less than US$1m in revenue or
investment. Growth-stage companies must introduce innovations that have not yet
been publically announced.

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